[Federal Register Volume 88, Number 143 (Thursday, July 27, 2023)]
[Proposed Rules]
[Pages 48632-48633]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-14564]



[[Page 48631]]

Vol. 88

Thursday,

No. 143

July 27, 2023

Part XIX





 Consumer Financial Protection Bureau





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Semiannual Regulatory Agenda

  Federal Register / Vol. 88, No. 143 / Thursday, July 27, 2023 / UA: 
Reg Flex Agenda  

[[Page 48632]]


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CONSUMER FINANCIAL PROTECTION BUREAU

12 CFR Ch. X


Semiannual Regulatory Agenda

AGENCY: Consumer Financial Protection Bureau.

ACTION: Semiannual Regulatory Agenda.

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SUMMARY: The Consumer Financial Protection Bureau (CFPB) is publishing 
this agenda as part of the Spring 2023 Unified Agenda of Federal 
Regulatory and Deregulatory Actions. The CFPB reasonably anticipates 
having the regulatory matters identified below under consideration 
during the period from June 1, 2023 to May 31, 2024. The next agenda 
will be published in Fall 2023 and will update this agenda through Fall 
2024. Publication of this agenda is in accordance with the Regulatory 
Flexibility Act (5 U.S.C. 601 et seq.).

DATES: This information is current as of March 22, 2023.

ADDRESS: Consumer Financial Protection Bureau, 1700 G Street NW, 
Washington, DC 20552.

FOR FURTHER INFORMATION CONTACT: A staff contact is included for each 
regulatory item listed herein. If you require this document in an 
alternative electronic format, please contact 
[email protected].

SUPPLEMENTARY INFORMATION: The CFPB is publishing its Spring 2023 
Agenda as part of the Spring 2023 Unified Agenda of Federal Regulatory 
and Deregulatory Actions, which is coordinated by the Office of 
Management and Budget (OMB) under Executive Order 12866. The agenda 
lists the regulatory matters that the CFPB reasonably anticipates, as 
of March 22, 2023, that it will have under consideration during the 
period from June 1, 2023, to May 31, 2024, as described further 
below.\1\ The complete Unified Agenda is available to the public at the 
following website: https://www.reginfo.gov.
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    \1\ The listing does not include certain routine, frequent, or 
administrative matters. The CFPB is reporting information for this 
Unified Agenda in a manner consistent with past practice.
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    Consistent with procedures established by OMB's Office of 
Information and Regulatory Affairs,\2\ the CFPB's active agenda is 
divided into five sections: pre-rule stage; proposed rule stage; final 
rule stage; long-term actions, completed actions. Generally, the pre-
rule through final rule stages sections list items the CFPB plans to 
issue within the next 12 months. The long-term actions are listed for 
informational purposes, if a regulatory action is anticipated beyond 
that one-year time frame. Completed actions are those that have been 
published as final or are withdrawn.
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    \2\ See https://www.reginfo.gov/public/jsp/eAgenda/UA_About.myjsp.

Rohit Chopra,
Director, Consumer Financial Protection Bureau.

        Consumer Financial Protection Bureau--Proposed Rule Stage
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                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
255.......................  Amendments to FIRREA               3170-AA57
                             Concerning Automated
                             Valuation Models.
256.......................  Required Rulemaking on             3170-AA78
                             Personal Financial Data
                             Rights.
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         Consumer Financial Protection Bureau--Completed Actions
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                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
257.......................  Small Business Lending             3170-AA09
                             Data Collection Under the
                             Equal Credit Opportunity
                             Act.
------------------------------------------------------------------------

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Proposed Rule Stage

255. Amendments to FIRREA Concerning Automated Valuation Models [3170-
AA57]

    Legal Authority: 12 U.S.C. 3354
    Abstract: The CFPB is participating in an interagency rulemaking 
process with the Board of Governors of the Federal Reserve System, the 
Office of the Comptroller of the Currency, the Federal Deposit 
Insurance Corporation, the National Credit Union Administration, and 
the Federal Housing Finance Agency (collectively, the Agencies) to 
develop regulations to implement the amendments made by the Dodd-Frank 
Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989 
(FIRREA) concerning automated valuation models. The FIRREA amendments 
require implementing regulations for quality control standards for 
automated valuation models (AVMs). In February 2022, the CFPB initiated 
the process under the Small Business Regulatory Enforcement Fairness 
Act of 1996 (SBREFA) for this rulemaking and released an outline of 
proposals and alternatives under consideration for the SBREFA panel, 
made up of representatives of small businesses that might be affected 
by the rulemaking. The CFPB released a final SBREFA report on May 13, 
2022. The Agencies expect to issue a proposed rule to implement the 
Dodd-Frank Act's AVM amendments to FIRREA in June 2023.
    Timetable:

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               Action                    Date            FR Cite
------------------------------------------------------------------------
SBREFA Outline......................   02/23/22  .......................
SBREFA Report.......................   05/13/22  .......................
NPRM................................   06/00/23  .......................
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    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Pedro De Oliveira, Office of Regulations, Consumer 
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
    RIN: 3170-AA57

256. Required Rulemaking on Personal Financial Data Rights [3170-AA78]

    Legal Authority: 12 U.S.C. 5533
    Abstract: Section 1033 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Dodd-Frank Act) provides that, subject to 
rules prescribed by the Bureau, a covered entity (for example, a bank) 
must make available to consumers, upon request, transaction data and 
other information concerning a consumer financial product or service

[[Page 48633]]

that the consumer obtains from the covered entity. Section 1033 also 
states that the Bureau must prescribe by rule standards to promote the 
development and use of standardized formats for information made 
available to consumers. In November 2020, the Bureau published an 
Advance Notice of Proposed Rulemaking (ANPRM) concerning implementation 
of section 1033, accepting comments until February 2021. In October 
2022, the Bureau released materials in advance of convening a panel 
under the Small Business Regulatory Enforcement Fairness Act (SBREFA), 
in conjunction with the Office of Management and Budget and the Small 
Business Administration's Chief Counsel for Advocacy. The SBREFA panel 
was convened in February 2023 and received feedback from 
representatives of small entities on the impacts the rules the Bureau 
is considering to implement section 1033 would have on small entities 
likely to be directly affected by the rulemaking.The panel's report 
will becompleted in April 2023. The Bureau's next step in the 
rulemaking is to issue a Notice of Proposed Rulemaking (NPRM).
    Timetable:

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               Action                    Date            FR Cite
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Request for Information.............   11/22/16  81 FR 83806
Principles Statement................   10/18/17  .......................
ANPRM...............................   11/06/20  85 FR 71003
ANPRM Comment Period End............   02/04/21  .......................
SBREFA Outline......................   10/27/22  .......................
SBREFA Report.......................   04/03/23  .......................
NPRM................................   10/00/23  .......................
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    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Michael Scherzer, Office of Regulations, Consumer 
Financial Protection Bureau, Washington, DC 20552, Phone: 202 435-7700.
    RIN: 3170-AA78

CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Completed Actions

257. Small Business Lending Data Collection Under the Equal Credit 
Opportunity Act [3170-AA09]

    Legal Authority: 15 U.S.C. 1691c-2
    Abstract: Section 1071 of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Dodd-Frank Act) amended the Equal Credit 
Opportunity Act (ECOA) to require, subject to rules prescribed by the 
CFPB, financial institutions to report information concerning credit 
applications made by women-owned, minority-owned, and small businesses. 
In September 2020, the CFPB released an outline of proposals under 
consideration and alternatives considered in advance of convening a 
panel under the Small Business Regulatory Enforcement Fairness Act 
(SBREFA), in conjunction with the Office of Management and Budget and 
the Small Business Administration's Chief Counsel for Advocacy. The 
SBREFA panel was convened in October 2020 and received feedback from 
representatives of small entities on the impacts the rules the Bureau 
is considering to implement section 1071 would have on small entities 
likely to be directly affected by the rulemaking. The panel's report 
was completed and released in December 2020. On October 8, 2021, a 
Notice of Proposed Rulemaking (NPRM) was published in the Federal 
Register. The CFPB's next action for the section 1071 rulemaking is the 
issuance of a final rule.
    Timetable:

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               Action                    Date            FR Cite
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Request for Information.............   05/15/17  82 FR 22318
Request for Information Comment        09/14/17  .......................
 Period End.
SBREFA Outline......................   09/15/20  .......................
Pre-Rule Activity--SBREFA Report....   12/14/20  .......................
NPRM................................   10/08/21  86 FR 56356
NPRM Comment Period End.............   01/06/22  .......................
Final Rule..........................   05/31/23  88 FR 35150
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    Regulatory Flexibility Analysis Required: Yes.
    Agency Contact: Kristine Andreassen, Office of Regulations, 
Consumer Financial Protection Bureau, Washington, DC 20552, Phone: 202 
435-7700.
    RIN: 3170-AA09

[FR Doc. 2023-14564 Filed 7-26-23; 8:45 am]
BILLING CODE 4810-AM-P